Owner's Title Insurance Disclosure - MS

Posted By: Comply Central

Owner's Title Insurance Disclosure - MS - 02/16/22 06:02 PM

Is a Notice of Owner's Title Insurance required for property purchased in Mississippi?
Posted By: rlcarey

Re: Owner's Title Insurance Disclosure - MS - 02/16/22 06:33 PM

I am not sure what you mean by Notice of Owner's Title Insurance, but I do not see any specific requirement in MS.
Posted By: Comply Central

Re: Owner's Title Insurance Disclosure - MS - 02/16/22 06:49 PM

In Tennessee, where we are located, a Notice of Acknowledgment With Respect To Owners Title Insurance (the title on our Disclosure), is required for purchase of real property. TN Code 56-35-133 We have a loan that is being secured by property in MS and I cannot find where it is required there. Our loan processing software did not make this form or one similar available, but I wanted to make sure we didn't need it.
Posted By: rlcarey

Re: Owner's Title Insurance Disclosure - MS - 02/16/22 07:16 PM

I thought that TN disclosure was required to be delivered by the closing agent and not the lender? You do not close your own purchase money loans, do you? But there is no similar requirement in MS.

(a) In connection with any transaction involving the purchase or sale of a fee simple possessory interest (title evidencing beneficial ownership) in real property in this state, the person conducting or handling the settlement, at or before the closing of settlement and disbursement of any funds, shall obtain from the purchaser a statement in writing that the purchaser has received a notice that owner's title insurance may be available to the purchaser and that the purchaser does or does not desire to purchase the insurance coverage.